“The foundation stones for a balanced success are honesty, character, integrity, faith, love and loyalty.”

-– Zig Ziglar

We are currently facing a crisis in the construction industry, as well as many other industries. The problem lies in the scarcity of exceptional individuals who are willing to work in our business and on our crews. It is disheartening to witness a significant decline in the hiring standards, where qualities such as honesty, character, integrity, faith, love, and loyalty are no longer prioritized. As a result, we find ourselves compromising the success of our business by settling for just any warm body to fill a position. But is this truly a viable solution?

It is imperative for business management teams to engage in a conversation about how to navigate this crisis. Each member of our existing team understands the dire consequences of hiring individuals who lack character and integrity. What's worse, knowing that these individuals will not adhere to our policies and procedures, we stop holding them accountable, which in turn affects even our most exceptional employees. This desperate act of hiring out of necessity poisons the entire business system, dragging down its overall performance.

Perhaps it is time to take control of the situation and prevent our business from crashing and burning. We must "land the plane" and address the issue at hand. What does this mean for you?

— Wayne Jensen

Presented by: Wannemacher Jensen Architects, Inc.

Currently In The News

Construction Job Openings Increased by 56,000 in September

The construction industry has 431,000 job openings, according to a recent analysis by the Associated Builders and Contractors.

This is based on data from the U.S. Bureau of Labor Statistics' Job Openings and Labor Turnover Survey. In the past month, there has been an increase of 56,000 job openings, but compared to last year, there has been a slight decline of 35,000. The number of open construction positions is at its highest level since December 2022. Overall, there are 9.6 million job openings across various sectors, which is 37% higher than before the pandemic. While there are positive signs of improvement, labor shortages remain a challenge for the industry. However, the rate of workers leaving their jobs has normalized, and the percentage of workers laid off has decreased. Despite these positive trends, labor shortages will continue to be a significant challenge in the industry.

Cyber security in modern construction:

Preparing for the inevitable moment for you

Cybercrime is no longer a matter of "if" but "when" it will affect your organization. Last year alone, there was a 48% increase in global cybercrime losses, leading architecture, engineering, and construction firms to invest more in cyber security technologies. Despite these efforts, nearly 70% of organizations have experienced cyber-attacks in the past year. The rapid growth of cyber threats, fueled by easy-to-use tools and Ransomware-as-a-Service models, has made it difficult for IT teams to defend against attacks. Construction companies like Interserve and Andrade Gutierrez have already suffered major data breaches, resulting in significant financial and operational consequences. The cost of an attack goes beyond the ransom demands, including expenses for security breach remediation, digital forensics, legal counsel, and PR management. It's time to rethink resilience strategies and move beyond traditional endpoint-focused security solutions. Organizations need broader visibility across their entire corporate estate to detect and investigate breaches sooner. The speed of action is crucial in preventing successful attacks. Building proactive security operations, combining technology, people, and processes, is the best approach to mitigate cyber risk. However, many companies hesitate to invest in cybersecurity expertise and face challenges with cyber insurance, compliance, and system updates. Partnering with a specialized Security Operations Centre (SOC) provider can help organizations handle threats faster and more affordably, ensuring round-the-clock protection and expert advice for long-term security resilience.

Texas Senate Approves $1.5B Bill For Construction Of Border Wall

The Texas Senate has given its resounding approval to a groundbreaking border security measure. In a momentous decision on Tuesday.

Senators unanimously passed a monumental $1.5 billion proposal, paving the way for the construction of an additional 50 miles of impenetrable wall along the Texas-Mexico border. This visionary initiative also includes substantial funding to bolster the tireless efforts of our state law enforcement in curbing the alarming influx of illegal border crossings. Notably, the House had already endorsed similar legislation just last week, further solidifying the unwavering support for this crucial endeavor. It is important to highlight that this substantial investment is in addition to the colossal sum of over ten billion dollars that the Legislature has already allocated for Governor Greg Abbott's highly successful Operation Lonestar since its inception in 2021.

Increase Your Profitability

These 2 Construction Stocks Could Beat Earnings: Why They Should Be on Your Radar

The Zacks Expected Surprise Prediction (ESP) compares the most recent analyst earnings revisions to the overall Zacks Consensus Estimate.

This provides a percentage difference, which is the ESP figure. Construction Partners (ROAD) has an ESP of 2.91%, indicating a good chance of beating analyst expectations. Emcor Group (EME) also has a positive ESP of 9.88%. Both stocks have a good chance of exceeding analyst expectations in their next earnings report.

Direction Of The Business

Why Sustainable Housing Is Key for a Resilient Future

Canada and other regions experienced wildfires, extreme heat, drought, and flooding this summer.

The Canadian Centre for Policy Alternatives is hosting their annual gala, focusing on progressive policymaking and climate change preparedness. Sustainable housing plays a crucial role in a sustainable future, offering improved environmental performance and reducing waste and costs. Many examples of innovative sustainable housing and retrofits exist. Some jurisdictions have banned fossil fuel-based heating in homes, while others are transitioning to all-electric housing. Location and density are also important factors in sustainable housing, with some jurisdictions increasing density to accommodate more housing in existing neighborhoods. Oregon, for example, has eliminated single-family zoning in most cities and has urban growth boundaries to protect agriculture and open space.

DIG INTO THIS ONE

Built to Last, the defining management study of the nineties, showed how great companies triumph over time and how long-term sustained performance can be engineered into the DNA of an enterprise from the very beginning.

But what about the company that is not born with great DNA? How can good companies, mediocre companies, and even bad companies achieve enduring greatness?

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